Plan Includes Investment in Underserved Communities
CLEVELAND, OH, MARCH 18, 2016 /3BL Media/ – KeyBank today announced several major steps to further its community investments across the company as part of a National Community Benefits Plan. The investments announced today underscore KeyBank’s commitment to helping clients and communities thrive as well as its responsible approach to banking, citizenship and operations.
The National African American Small Business Loan Fund will increase economic opportunity for businesses that lack access to credit and primarily serve low-income communities
LOS ANGELES, March 4, 2016 /3BL Media/ – VEDC and JPMorgan Chase & Co. today announced an expansion of a lending program for African American-owned small businesses in Los Angeles. The National African American Small Business Loan Fund is part of a broader initiative to boost economic opportunity for minority-owned businesses in Los Angeles, as well as Chicago and New York, and help them serve low-income communities by providing greater access to capital, technical assistance and financial consulting.
Increases Access to Capital for Women-owned U.S. Small Businesses
SAN FRANCISCO, February 11, 2016 /3BL Media/ – Wells Fargo & Company (NYSE: WFC) announced today it has provided $7 million to Grameen America, a leading U.S. non-profit microfinance organization, to support microloans for entrepreneurs. The $1 million equity equivalent (EQ2) investment and $6 million senior debt facility, which act as revolving funds, are estimated to yield over a three-year period an additional $42 million in loans for start-ups and expansions to more than 10,000 low-income women entrepreneurs.
Cybercrime was estimated in 2014 to cost the global economy upwards of $575 billion annually. Earlier this year, Time Warner Cable Business Class conducted its second annual small business technology survey and found that 27% of respondents said securing their network from external threats is their biggest technology challenge today.
Four Detroit-based minority-owned small businesses receiving $325,000 in loans are providing lighting, construction and retail services from the city’s neighborhoods to downtown
Detroit, December 3, 2015 /3BL Media/ – The Detroit Development Fund (DDF), JPMorgan Chase & Co. and the W.K. Kellogg Foundation (WKKF) today announced the first four Detroit-based minority-owned small businesses receiving loans and lines of credit from the Entrepreneurs of Color (EOC) Fund. The lending from this $6.5 million program is going to Detroit-based neighborhood businesses owned by entrepreneurs of color and businesses that primarily hire people of color.
LONDON, December 01, 2015 /3BL Media/ – With a US $5 million grant from Accenture (NYSE:ACN), Youth Business International (YBI) will enhance the capacity,scale and impact of its global network and equip 50,000 youth worldwide with entrepreneurial skills.
Unique initiative provides mentoring and capital to early-stage businesses, as well as learning opportunities for Macomb Community College’s students
WARREN, Mich., November 18, 2015 /3BL Media/ – Five early-stage companies from Macomb, Oakland, Washtenaw and Wayne counties will receive $300,000 in funding from the Innovation Fund Macomb Community College, Powered by JPMorgan Chase & Co.
Investment will provide small business loans for emerging entrepreneurs
MINNEAPOLIS, Nov. 16, 2015 /3BL Media/ – Wells Fargo & Company (NYSE: WFC) today announced it has provided a $1,000,000 Equity Equivalent Investment (EQ2) to Metropolitan Consortium of Community Developers (MCCD), a 501(c)3 organization that provides small business loans and technical assistance to emerging entrepreneurs who may be challenged to meet traditional underwriting criteria by virtue of being a start-up or those who have credit challenges and/or a shortfall of collateral.
Wells Fargo launches $75 million Diverse Community Capital Program
A nonprofit in Jackson, Mississippi, will use a $2 million grant from Wells Fargo to support commercial lending, outreach, and technical assistance programs for minority- and women-owned and led small businesses.